Cola Group announces $14.5m investment in igaming expansion

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Gaming operator Cola Group has announced a $14.5m (£10.6m/€12.5m) investment to expand its igaming division, Cola.bet, after receiving its fourth African gambling licence from Nigeria’s Lagos State Lotteries Board.

The brand’s Nigerian licence adds to its presence in Africa, where it already held licences in the jurisdictions of Zambia, Kenya and Ethiopia.

The Nigerian sports betting licence was granted to Cola Games Ltd, a locally incorporated Cola.bet subsidiary.

The operator said that it will leverage its operating blueprint from Ethiopia, which shares similarities with the Nigerian market due to both being retail-centric rather than online. In addition to operating its own brands, Cola Group said its mobile-first Cola.bet platform can be easily adjusted and customised for B2B partners, offering players a broad selection of sport events, esports and casino games.

The company also offers a consulting service, including a licensing brokerage providing access to localised knowledge and best practices in each operating region.

Dinu Bors, chief operating officer of Cola.bet, said:

“Cola.bet delivers an exceptional customer-first experience and the launch augments our global ambitions within the igaming space. The platform is highly customisable and grants B2B partners instant access to curated content for a plethora of markets. We’ll be rolling out several innovative features over the coming months, we’re only just getting started.”

Dana Varnytska, Cola.bet’s chief marketing officer, added:

“Our strategy is built on a localised programme which has been developed through thorough research into market nuances and player preference. Players will benefit from bespoke bonus promotions and extremely competitive odds on the most popular events.”